Business Travel Management Service Industry Report: Competitive Landscape and Future Prospects
The Business Research Company
The Business Research Company’s Business Travel Management Service Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, November 26, 2025 /EINPresswire.com/ -- What Is The Projected Market Size & Growth Rate Of The Business Travel Management Service Market?
There has been a significant increase in the size of the business travel management service market over recent years. This market, worth $8.05 billion in 2024, will see a surge to $8.53 billion in 2025, with a compound annual growth rate (CAGR) of 5.9%. Factors contributing to this boost during the historic period include the escalation of global compliance and regulatory demands related to business travel, the upswing in leisure travel, a heightened focus on employee health and safety, an increase in corporate travel budgets, and the continuing trend of globalization.
The market size for business travel management services is anticipated to undergo substantial growth in the coming years, expanding to a worth of $10.68 billion by 2029, reflecting a 5.8% compound annual growth rate (CAGR). The surge is linked to an increased need for superior travel services and cost-efficient solutions, a rise in business travels, expanding government schemes for mice development, cost-effective and efficient business travels enhancement, and growth in the number of corporate voyagers frequent flyers. Key trends expected in the forecast period encompass technological development, personalization, mobile apps, hybrid meetings, and recreational travel.
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What Is The Crucial Factor Driving The Global Business Travel Management Service Market?
The growth of the business travel management services market is anticipated to be fuelled by the expansion of the travel and tourism industry. The latter encompasses a broad array of businesses, services and initiatives pertaining to travel, tourism and hospitality, while catering to individuals travelling within the country or abroad. Enhanced accessibility, affordability and attractiveness of travel have contributed to an increase in travel and tourism. Business travel management services serve a crucial role in this industry by offering specialised services to optimise the efficiency, cost-efficiency, and overall experience of corporate travel. For instance, Condor Ferries Limited, a US-based travel services firm, projected that in 2023, 59% of US tourists would visit aquariums, 56% would visit scientific museums, 49% would visit historical and cultural sites, and 46% would go on sightseeing excursions. Additionally, in July 2022, the US-based International Trade Administration reported a 160.8% increase in the total number of foreign visitors to the US, pushing the figure to 5.21 million, when compared to July 2021. Consequently, the burgeoning travel and tourism industry is propelling the growth of the business travel management services market.
Who Are The Emerging Players In The Business Travel Management Service Market?
Major players in the Business Travel Management Service include:
• American Express Company
• Booking Holdings Inc.
• Expedia Group Inc.
• Carlson Wagonlit Travel
• BCD Travel
• GBT Travel Services UK Limited
• Christopherson Business Travel
• Flight Centre Travel Group Limited
• Fareportal Inc.
• Direct Travel Inc.
What Are The Key Trends Shaping The Business Travel Management Service Industry?
Key businesses in the field of business travel management services are pushing boundaries by incorporating technological innovations and creating new applications. These are intended to make business travel more straightforward, improve the process of making reservations, boost the safety of travelers, and offer real-time updates. The apps offer a one-stop-shop experience, enabling users to conveniently handle every element of their travel agenda - from booking flights and accommodations to arranging meetings and transport. For example, Trip.Biz, a digital travel management firm (TMC) which operates out of Singapore under the Trip.com Group, unveiled the Trip.Biz app in April 2024. The application was created to enhance corporate travel logistics and brings a strong focus on user-friendly technology and sustainability. With the Trip.Biz app, the goal is to untangle the complicated nature of business travel. Users are provided with round-the-clock customer assistance in various languages, allowing them to easily manage their corporate travel requirements.
What Segments Are Covered In The Business Travel Management Service Market Report?
The business travel management service market covered in this report is segmented –
1) By Type: Consulting Services, Transportation And Accommodation, Meetings And Events Management, Other Types
2) By Service: Transportation, Food And Lodging, Recreation
3) By Application: Large Enterprises, Small And Medium-Sized Enterprise (SMEs), Governments And Non-Profits
Subsegments:
1) By Consulting Services: Travel Policy Consulting, Cost Optimization Consulting, Risk Management Consulting, Sustainability Consulting
2) By Transportation And Accommodation: Air Travel Booking, Rail And Ground Transportation, Hotel And Accommodation Booking, Car Rental Services
3) By Meetings And Events Management: Corporate Event Planning, Conference And Seminar Management, Incentive Travel Programs, Venue Sourcing And Coordination
4) By Other Types: Expense Management And Reporting, Travel Technology Solutions, Traveler Support And Assistance Services, Visa And Documentation Assistance
View the full business travel management service market report:
https://www.thebusinessresearchcompany.com/report/business-travel-management-service-global-market-report
Which Region Is Projected To Hold The Largest Market Share In The Global Business Travel Management Service Market?
In 2024, North America led the market in business travel management service, with potential growth anticipated. The business travel management service market report includes coverage of regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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